Please find attached your Talbot Financial third quarter 2020 portfolio review to supplement your monthly account statements available from Schwab. The report provides a performance summary of your investment portfolio compared to the S&P 500 Total Return Index (“Index”), Talbot Financial’s benchmark, and lists your investment portfolio holdings by industry sector.
2020 has been filled with uncertainty and anxiety, largely driven by the pandemic. As we navigate this territory, our first concern remains with you, your families, and the communities in which you live. Covid-19 and the recent issues around social injustice have created new challenges in our neighborhoods and nation. As your financial team, we want to reassure you that we are monitoring and managing your investment portfolio with these challenges in mind.
Please find attached your Talbot Financial first quarter 2020 portfolio review to supplement your monthly account statements available from Schwab. The report provides a performance summary of your investment portfolio compared to the S&P 500 Total Return Index (“Index”), Talbot Financial’s benchmark, and lists your investment portfolio holdings by industry sector.
In 2019, the U.S. equity markets benefited from a continued robust U.S. economy, the Federal Reserve lowering interest rates, and concerns over tariff wars dissipating. Talbot Financial’s benchmark for performance comparative purposes, the S&P 500 Total Return Index (“Index”) returned 9.1% in the fourth quarter of 2019, and 31.5% for the full year.
The financial markets advanced during the third quarter amidst continued anxiety surrounding trade deals and interest rates. The S&P 500 Total Return Index (“Index”) returned 1.7% during the third quarter. The Index is up 20.6% on a year-to-date basis through Sept. 30, 2019.
Within Talbot Financial clients’ portfolios, Technology and Consumer Discretionary were the best performing industry sectors for the third quarter and the year-to-date periods. Both sectors continue to meet our disciplined criterion of balance sheet strength, return of cash flow and long-term secular growth.